We expect European indices to open overall lower after yesterday's sell-off in European stocks. According to IG the FTSE100 is expected to open around 7440, DAX around 12202 and CAC around 5339.
Focus today will be on the trade conflict between the US and Canada. The two countries will negotiate on a common agreement today, after months of no progress on reaching common grounds.
For Europe the risk remains Italy. Despite concerns over Italy, however, the fear has not spread to other financially vulnerable European countries like Spain and Greece. The effect of a crisis in Italy, however, will be severe for the whole Eurozone. Negotiations on the Italian budget are set to continue until the end of the month.
EUR/USD remained anchored around the support at 1,1583. Today we will conclusively see whether the downwards trend in the euro will reverse or continue.
Today we expect data on retail sales from the Eurozone at 12:00 Sofia time.
Source: CNBC
Original post: European markets seen lower
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